R&I – TxPAT ***
Oil and gas supply is too low to meet U.S. demand, due to a combination of factors, including halting of new leases on federal land, halting the Keystone Pipeline, and increasing regulatory burdens, industry analysts argue
If Biden had not severely hampered domestic production, the U.S. would have an ample supply of oil and gas and commensurately lower costs at the pump, industry experts argue.
The $6 billion in additional costs imposed on the industry included in the budget reconciliation bill include new methane fees, inspection fees, severance fees, and bonding requirements, as well as additional requirements for operating on federal lands.
Obey
Article URL : https://justthenews.com/politics-policy/energy/tugas-prices-seven-year-high-and-rising-biden-offensive-against-domestic-oil